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GROSSO GROUP MEMBER COMPANY
TSX-V: BSK OTC:BKUCF FSE:MAL2
Advanced Exploration at the
Newest Uranium/Vanadium
District in Argentina
www.blueskyuranium.comJanuary 2019
Disclaimers and Cautionary Language
This presentation contains forward-looking information. Forward-looking information involves risks, uncertainties and other factors that could causeactual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-lookinginformation. Forward looking information in this presentation includes, but is not limited to, Blue Sky’s objectives, goals or future plans, statementsregarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of thecommencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varyingsignificantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failure to obtain required governmental,environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changesin equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risksinvolved in the mineral exploration and development industry, and those risks set out in Blue Sky’s public documents filed on SEDAR. AlthoughBlue Sky believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, unduereliance should not be placed on such information, which only applies as of the date of this presentatin, and no assurance can be given that suchevents will occur in the disclosed time frames or at all. Blue Sky disclaims any intention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events or otherwise, other than as required by law.
The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning theCompany. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitutefor detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the informationpresented. The Company undertakes no obligation to publicly update or revise any forward-looking statements other than as required underapplicable law.
We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investorsare cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Uranium deposits and resources owned by other companies referred to in this presentation have not been independently verified by the Corporationand information regarding these deposits are drawn from publicly available information. There is no certainty that further exploration of theCorporation's uranium targets will result in the delineation of a similar mineral resources.
Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources maybe materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantityand grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferredresources as Indicated or Measured, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measuredcategory.
This presentation has been reviewed and approved by David Terry, Ph.D., P.Geo, a Director of the Company and a Qualified Person asdefined in National Instrument 43-101.
TSX-V: BSK OTC: BKUCF FSE: MAL2 1
Investment Highlights
2
New Surficial Uranium Deposit Discovery:
19 Mlbs U3O8 Inferred Resource (24 Mt @ 308 ppm U.)
Largest Uranium Discovery in Argentina in 40 years
Resource open for Expansion; PEA underway.
District Scale Uranium & Vanadium Targets Open -
100% Controlled
Best in class team with historical of
prospect development success in Argentina
Strong Vanadium market with Uranium positioned
to rebound
Strong support for nuclear industry in Argentina at local
and federal level
Value Base
Upside Potential
Management & Technical
Capabilities
Commodity
Fundamentals
TSX-V: BSK OTC: BKUCF FSE: MAL2
Relevant Jurisdiction
Value Base & Upside Potential
Amarillo
Grande
Project19 Mlbs U3O8
Inf. Resource
(24 Mt @ 308ppm U)
Rio
Negro
Chubut
• Exclusive Rights to 100% of ~250,000 hectares
including A New Uranium/Vanadium District
• New NI 43-101 U308 Resource – the largest in
Argentina in more than 40 years
• Aggressive exploration underway for additional
Uranium/Vanadium resources
– Mineralization occurs along a 145-km-long trend
• Potential to be a low-cost, short-lead-time,
uranium supplier to domestic (Argentina) and
international markets
– Near-surface mineralization, hosted by unconsolidated
sands and gravels
– Leachable & Potentially upgradeable at low cost
– Preliminary Economic Assessment underway
TSX-V: BSK OTC: BKUCF FSE: MAL23
Who We Are
The Grosso Group Management company has
been conducting mineral exploration in
Argentina for 25 years.
The Grosso Group has a track record of
success with three world-class precious
metals discoveries in Argentina, and a focus on
community relations.
The Group has built a vast network of
industry and government relationships, giving
its Member Companies a distinct advantage in
the acquisition, exploration and development of
mineral projects.
TSX-V: BSK OTC: BKUCF FSE: MAL2 4
Team Highlights
Joseph Grosso
Chairman & Director
President & Founder of
Grosso Group
Management Ltd.
Pioneer in the
exploration and mining
sector in Argentina since
1993.
David Terry, Ph.D. P.Geo
Technical Advisor, Director
Professional economic
geologist, senior
executive & director with
+25 years in the mineral
resources sector.
Guillermo Pensado, M.Sc.
VP Exploration
Geologist
involved in
exploration,
development
and project
management in
the mining
industry for +22
years.
Jorge Berizzo, Ph.D.
Technical Advisor
30+ years of uranium
experience in
Argentina. Senior
exploration geologist
& mine manager for
the Argentinean
National Atomic
Energy Commission
("CNEA").
.
Nikolaos Cacos, M.I.M.
President & CEO, Director
One of the founders of
the Company with over
23 years of management
expertise in the mineral
exploration industry.
Extensive experience in
providing strategic
planning to and
administration of public
companies.
TSX-V: BSK OTC: BKUCF FSE: MAL2 5
Chuck Edwards, P.Eng
Technical Advisor
Specialist in uranium
processing for
alkaline and acid
leach plants.
Technical consultant
to the International
Atomic Energy
Agency and former
President of the CIM.
Uranium Outlook
The world believes Nuclear power is necessary:
• In more than 12 countries: 71 nuclear reactors are under construction, 165
planned, and 315 proposed
• China: Plans to spend $2.4 Trillion to expand its nuclear power generation by
6,600%*
Source* - BMI Research, Graphic by Bloomberg Newsweek
Source** - Capital IQ
TSX-V: BSK OTC: BKUCF FSE: MAL2 6
Morning Star**:
• Expect global uranium demand to rise roughly 40% by 2025
• Low secondary supplies will cause shortfalls; estimate that this will affect price negotiations by 2019
• To encourage new supply, expected price should rise to around $65 per pound.
Vanadium Outlook
85% of Vanadium production is from three countries, heavily levered to Iron Ore
production and steel market dynamics
• Future demand fueled by Vanadium in redox flow batteries – Industrial energy
story and distribution
• China National Development and Reform Commission calls for multiple pilot
projects of 100- MW-scale vanadium flor batteries by end of 2020
• Robert Friedland on pilot project: “…will result in vanadium flow batteries
revolutionizing modern electricity grids in the way that lithium-ion batteries are
enabling the global transition to electric vehicles.”1
Source: https://investingnews.com/daily/resource-investing/industrial-metals-
investing/vanadium-investing/vanadium-outlook/TSX-V: BSK OTC: BKUCF FSE: MAL2 7
Vanadium Pentoxide 98% min
Europe USD/Lb 3 year chart
From: www.vanadiumprice.com
Argentina: Energy Industry Today &
Uranium Future Opportunities
• Argentina currently highly dependent on fossil fuel and
hydroelectric power but has an advanced nuclear industry:
– 3 nuclear power plants in operation, 6 research reactors, 4 particle
accelerators, 3 atomic centres, 1 heavy water plant and 1 uranium
purification plant
• The government has committed to a minimum target of
reducing CO2 emissions by 15% by 2030.
= A nuclear energy requirement that more than doubles by 2025
(~1.25Million pounds of U3O8e annually)
• Nuclear power industry now expanding:
– 1 nuclear power plant now under construction
– 2 additional in planning & 2 under proposal
• No domestic uranium for fuel production:
– Need for security of supply could provide a “guaranteed” first customer
for a domestic supplier
– U & V could be also exported to international customers
Sources: http://www4.unfccc.int/submissions/indc/Submission%20Pages/submissions.aspx accessed 03/11/16
https://www.iamericas.org/documents/energy/reports/Argentinas_Energy_Transition_2016.pdf accessed 03/11/16
64%
30%
4%2%
Argentina Energy Matrix 2015
43%
27%
10%
20%
Proposed Argentina Energy Matrix 2025
Thermal
Hydro
Nuclear
Renewable
TSX-V: BSK OTC: BKUCF FSE: MAL2 8
Rio Negro Province:
A Strong Nuclear Jurisdiction
• Broad local nuclear experience: research nuclear reactors, hydro-metallurgical
lab & pilot U-enrichment plant.
• Good infrastructure: power, water, skilled labour, and transportation available.
• Open and mining-friendly jurisdiction: attracted gold, copper and coal exploration
companies in the last year; including the reactivation of the Calcatreu gold
project.
• BSK’s projects in mostly semi-desert, low population density, providing minimal
environmental risk.
• Elevation of <200 metres; rainfall of 300 mm (12 inches) per year
• Easy to operate and access year-round
• <3 hour drive to important cities and airports
• 200 km to deep sea port
• Power, rail access, shallow groundwater
TSX-V: BSK OTC: BKUCF FSE: MAL2 9
Deposit Model 1: Surficial Uranium & Vanadium
• Most common U-V mineralization recognized to date
• U-V in the oxide mineral carnotite as coatings on pebbles
• Low cost to explore, mine & process
Located at or within a few metres of surface
In loosely consolidated sediments of ancient river
beds “paleo-channels” (No drill & blast)
Laterally extensive; generally low grades
• Advanced examples include:
• Langer Heinrich1: 116Mt @ 460ppm (M&I)
• Yeelirrie2: 27 Mt @ 0.16%, 12Mt @ 0.12% (M,I)
TSX-V: BSK OTC: BKUCF FSE: MAL2 101www.paladinenergy.com.au
2www.cameco.com
(K2(UO2)2(VO4)2.3H2O)
Deposit Model 2: Sandstone-Hosted Uranium
• Characterizes lower Ivana deposit and excellent potential for additional
discovery at depth throughout project area
• Constitute about 18% of world uranium resources & 41% of known deposits
• Main primary U minerals are uraninite (UO2) and coffinite (U(SiO4)1−x(OH)4x)
• U minerals deposited in sandstones in a marine environment under
reducing conditions (from carbon-rich materials, sulphides etc.)
• A variety of sub-types exist, including:
TSX-V: BSK OTC: BKUCF FSE: MAL2 12Statistics from: www.world-nuclear.org . Diagram modified after
https://www.geologyforinvestors.com/an-introduction-to-uranium-deposits/
Oxidized
sandstone
Reduced sandstone
Basal channel
(wide channels filled with sediments)
Roll-front
(c-shaped mineralized
bodies, often in
paleochannels)
Tabular
(elongated bodies, in
paleochannels incised
into basement)
Amarillo Grande – Discovery History
TSX-V: BSK OTC: BKUCF FSE: MAL2
2006 Initial discovery – Santa Barbara
2007 2,385 km2 airborne
Santa Barbara and Anit anomalies
2008 Anit discovery – initial samples
2009 Anit pit samples reported
2010 Anit trenching and aircore drilling
22,650 km2 airborne
2011 Anit initial metallurgy
Ivana high-grade Uranium discovery
2012 Areva agreement
Ivana pit sampling
2013 Ivana geophysics and deep drilling
2016 Data synthesis and interpretation
ET to delineate paleochannels
2017 Ivana Drilling & Uranium Deposit Delineation
Anit Drilling & Vanadium Expansion
2018 Ivana Resource Estimate
12
145km trend of surficial
uranium & vanadium
Santa Barbara
Anit
Ivana
Ivana Deposit - New Discovery
TSX-V: BSK OTC: BKUCF FSE: MAL2
• Near-surface (<25m) uranium & vanadium mineralization hosted by poorly
consolidated sand & gravel
• Oxide (carnotite) plus primary (coffinite +/- uraninite) mineralization
• Characteristics of both surficial and sandstone-hosted deposits
Mineral Resource Statement for Ivana Deposit,
Amarillo Grande Project.Thorson et. al, 2018. Report filed on SEDAR dated April 18, 2018, Effective Date Feb 28, 2018.
Inferred Resources – Base Case at 100 ppm Uranium cut-off grade
ZoneTonnes
(Mt)
U
(ppm)
U3O8
(%)
V
(ppm)
V2O5
(%)
Contained
U308 (Mlb)
Contained
V2O5 (Mlb)
Upper 3.2 132 0.016 131 0.023 1.1 1.6
Lower 20.7 335 0.040 105 0.019 18 8.6
Total 23.9 308 0.036 109 0.019 19.1 10.2
The mineral resource estimate has been prepared by Bruce M. Davis, FAusIMM, BD Resource Consulting, Inc., and Susan Lomas, P.Geo., Lions
Gate Geological Consulting Inc. who are both independent Qualified Persons as set forth by National Instrument 43-101 (“NI 43-101”).
The Reader should review all Cautionary Notes and Disclaimers at the beginning of this Presentation.
1.Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. 2. The Mineral Resources in this estimate were
not constrained within a conceptual pit shell owing to the shallow nature of the deposit (0 to 24 m) and blocks above cut-off being reasonably
contiguous. 3. The 100 ppm uranium cutoff grade is based on operative costs of $12/t, a price of $50/lb U3O8, and a process recovery of 90%. A
density of 1.84 was applied. 4. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral
Resources with continued exploration. 5. The resource was estimated within distinct zones of elevated uranium concentration occurring within the
host sediments. Vanadium is associated with uranium and is estimated within the same zones. There is no indication that Vanadium occurs outside
of the elevated uranium zones in the Ivana deposit area in sufficient concentrations to justify developing estimation domains focused on Vanadium.
13
Ivana Deposit & Expansion Potential
TSX-V: BSK OTC: BKUCF FSE: MAL2 14
• 5km arcuate mineralized
corridor including +1km
higher-grade zone
• Corridor 200 to +500m
wide, up to 23 metres
thick
• Open to expansion
• Recent ~1,000 m RC
drill program extended
mineralization by 1km
to the south
• Pit sampling program
underway – expanding
mineralization to the
west
(Ongoing. See
NR dated
11/15/2018)
Recent RC
drilling &
extension of
mineralization
(See NR dated
10/09/2018)
Ivana Preliminary Metallurgy
• >95% U recovery & 60% V recovery from oxide composite sample using
Alkaline leach processing
• Simple wet scrubbing followed by wet screening upgraded metal
concentrations by ~ 300% for Uranium & 250% for Vanadium
• Study completed at INVAP S.E. in Rio Negro (Industrial & nuclear
research facility)
• Mineralogy, metallurgical and process engineering studies underway at
the Saskatchewan Research Council lab.
TSX-V: BSK OTC: BKUCF FSE: MAL2 16
TSX-V: BSK OTC: BKUCF FSE: MAL2
Historical Exploration: • 5,044 m aircore drilling; 81 holes mineralized with average of
2.6m @ 0.03% U3O8 and 0.075% V2O5*
• 103 pits in west and central zones >50m ppm over 1m;
average of 1.97m@ 0.04% U3O8 and 0.11% V2O5
(see June 16, 2010 and Jan 20, 2011 News Releases)
Anit Uranium-Vanadium target
20
Anit 2017 - Vanadium Focus
• Phase I 2017 – 1,170 m drilled + Audit of previous results & testing for extensions
to mineralization.
• Large area of Vanadium mineralization identified, open for expansion, enveloping
the previously defined uranium zone
TSX-V: BSK OTC: BKUCF FSE: MAL2 20
Anit Beneficiation Testwork (2011)
TSX-V: BSK OTC: BKUCF FSE: MAL2
• Scrubbing and wet screening removes coarse pebbles that contain little or no U in
much of the mineralized material from Anit
• This upgrading could substantially lower processing and transportation costs
allowing development of several satellite deposits with processing at a central
facility.
• ~70% of U at Anit is hosted by gravel, reddish sand and sand-dominant material:
Furfaro, D. (2010): Anit Uranium Project Sighter Metallurgical Testwork Report 5091-R-001. Independent Metallurgical Operations Ltd (IMO Pty Ltd).
21
Amarillo Grande – District Potential
TSX-V: BSK OTC: BKUCF FSE: MAL2
The three outcropping targets areas
are interpreted as being hosted by the
same geological unit.
• Potential to identify additional
mineralization along the 145 km
trend, including Vanadium-
dominant deposits.
Additional primary style Sandstone-
type mineralization may be preserved
at depth - large target area
Potential to identify primary U-V
sandstone-hosted deposits.
Area has geologic similarities to uranium deposits in
Western Australia and Namibia
Rio Negro
17
Amarillo Grande –
Potential Production Model
Surficial Deposits =
Low-Costs and Short
Development Timeline
Weakly-cemented near-surface
deposits, suggest potential for
simple low-cost mining.
Pre-concentration by simple and
inexpensive wet screening may
reducing transport and treatment
costs.
First Preliminary Economic
Assessment underway for Ivana
deposit – expected Q1 2019
TSX-V: BSK OTC: BKUCF FSE: MAL2
Central Processing
Facility
Ivana
Anit
Santa Barbra
Potential feeder zones for an integrated
producing mine, with pre-concentration at
each project base
19
Share Structure
TSX-V: BSK OTC: BKUCF FSE: MAL2
Share Structure (@ Nov 30, 2018)
Shares Outstanding 109,788,717
Warrants (Avg. price $0.33) 43,459,431
Options (Avg. price $0.30) 4,520,000
Fully Diluted 157,768,148
Market Cap ($CAD) ~$15M
23
Blue Sky Advantages
TSX-V: BSK OTC: BKUCF FSE: MAL2
Blue Sky is a member company of the
Grosso Group, which provides strong
management and technical experience,
with a focus on Argentina
Exclusive rights to over 450,000
hectares of properties. Secondary
projects are ready to advance under the
right conditions.
The Amarillo Grande Project hosts a
significant U3O8 resource with local
and district upside. • Near-surface uranium & vanadium
• Leachable mineralization
• Potential for low-cost production – first PEA
in 2018
Rio Negro Province is a supportive
jurisdiction with extensive industry
infrastructure
24
Contact
TSX-V: BSK OTC: BKUCF FSE: MAL2
Suite 312 – 837 West Hastings Street
Vancouver, BC, Canada V6C 3N6
Telephone: +1-604-687-1828
Toll free: +1-800-901-0058
www.blueskyuranium.com
25